Fidelity NASDAQ Composite Index ETF (NASDAQ:ONEQ) Sets New 52-Week High – Should You Buy?

Fidelity NASDAQ Composite Index ETF (NASDAQ:ONEQ) reached a new 52-week high on Tuesday . The company traded as high as $99.71 and last traded at $99.58, with a volume of 46131 shares traded. The stock had previously closed at $98.68.

Fidelity NASDAQ Composite Index ETF Stock Up 1.1%

The stock has a market cap of $10.15 billion, a P/E ratio of 28.20 and a beta of 1.21. The business has a 50 day moving average price of $89.99 and a two-hundred day moving average price of $90.91.

Fidelity NASDAQ Composite Index ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Friday, March 20th were paid a dividend of $0.111 per share. The ex-dividend date of this dividend was Friday, March 20th. This represents a $0.44 dividend on an annualized basis and a yield of 0.4%.

Hedge Funds Weigh In On Fidelity NASDAQ Composite Index ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LPL Financial LLC boosted its stake in Fidelity NASDAQ Composite Index ETF by 7.8% during the fourth quarter. LPL Financial LLC now owns 1,201,414 shares of the company’s stock valued at $109,809,000 after buying an additional 86,467 shares during the last quarter. Wealthfront Advisers LLC boosted its stake in Fidelity NASDAQ Composite Index ETF by 6.3% during the fourth quarter. Wealthfront Advisers LLC now owns 688,825 shares of the company’s stock valued at $62,959,000 after buying an additional 40,983 shares during the last quarter. Heck Capital Advisors LLC boosted its stake in Fidelity NASDAQ Composite Index ETF by 1.2% during the third quarter. Heck Capital Advisors LLC now owns 616,117 shares of the company’s stock valued at $54,914,000 after buying an additional 7,415 shares during the last quarter. Bank of America Corp DE boosted its stake in Fidelity NASDAQ Composite Index ETF by 4.0% during the second quarter. Bank of America Corp DE now owns 569,103 shares of the company’s stock valued at $45,585,000 after buying an additional 21,951 shares during the last quarter. Finally, Lebenthal Global Advisors LLC boosted its stake in Fidelity NASDAQ Composite Index ETF by 42.4% during the fourth quarter. Lebenthal Global Advisors LLC now owns 521,216 shares of the company’s stock valued at $47,639,000 after buying an additional 155,262 shares during the last quarter.

Fidelity NASDAQ Composite Index ETF Company Profile

Fidelity Nasdaq Composite Index Tracking Stock (the Fund) is an exchange-traded fund . The Fund seeks to provide investment returns that closely correspond to the price and yield performance of the NASDAQ Composite Index (the Index). The Fund normally invests at least 80% of assets in common stocks included in the Index .The NASDAQ Composite Index is a market capitalization-weighted index that is designed to represent the performance of NASDAQ securities and includes over 3,000 stocks. The Fund uses statistical sampling techniques that take into account such factors as capitalization, industry exposures, dividend yield, price/earnings (P/E) ratio, price/book (P/B) ratio, and earnings growth to create a portfolio of securities listed in the index that have a similar investment profile to the entire the Index.